There are concerns in the industry around budget cuts by clients and layoffs, as enterprises grapple with reduced earnings amid lockdowns across various parts of the globe.
In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 alleged that billionaire Gautam Adani used shell companies based in Mauritius to manipulate stock prices of his Indian-listed companies.
The deal, part of the Jaypee Group's plan to cut Rs 60,000-crore debt, follows months of negotiations.
The UGC chairperson stressed that foreign varsities with campuses in the country can only offer full-time programmes in physical mode and not online or distance learning.
Chief Minister Arvind Kejriwal urged the Centre to provide medical oxygen to Delhi.
The panel had issued a notice to Facebook India vice president and managing director Ajit Mohan last week, asking him to appear before it on September 15 in connection with complaints about the social media giant's alleged deliberate inaction to curb hateful content in the country.
As many as 104 listed companies have fewer independent directors than mandated by the regulations, according to the figures from Prime Database, reports Sachin P Mampatta.
Tightening Initial Public Offering (IPO) norms, capital markets regulator Sebi on Friday cleared the proposal mandating the issuers to disclose the offer price based on past transactions and fund raising activities. In addition, the board of Sebi approved a proposal introducing an alternative mechanism by permitting "pre-filing" of offer documents for companies contemplating IPOs. Under this, an issuer should make "pre-filing" of offer documents with Sebi and stock exchanges without making it available to the public for an initial scrutiny period only.
'The CEO will neither be able to guide the senior team in operational matters nor decide on their appointment, compensation or removal.' 'Yet, the CEO is responsible for the profit and loss of the bank!' 'Why would the senior executives listen to him?' 'Which self-respecting professional would want to be a CEO with these constraints?' asks Tamal Bandyopadhyay.
BJP's Adhikari said that an opposition MLA is usually appointed as the PAC chairperson following the norm, but the TMC misused that rule to appoint Roy as its chairman.
Post-bribery disclosure, Cognizant is not pursuing greenfield expansion in the country and relying on leased facilities for new demands. The incident, which came to light in 2016, is also said to have claimed 200-300 jobs so far mainly in areas like administration, legal, and procurement.
There were no evidence of any kickbacks, inappropriate contracting or unreasonable expenses
Sebi's move will help curb the illicit practice of keeping the parent company's account clean while maintaining debt in its subsidiaries.
Diageo, the world's largest distiller, has been focusing on compliance at United Spirits Ltd (USL) after its acquisition of a controlling stake in India's largest spirits maker.
Whatever the final outcome of this unhappy episode, one thing is clear: a glass once cracked cannot be fixed. The trust is gone forever and the relationship between two old friends lies in tatters. For now, IndiGo, the airline, will have to learn to soar with two angry and distracted commanders, says Anjuli Bhargava.
The bench said the Union Cabinet Secretary will be the convenor of the task force and may nominate an officer not below the rank of Additional Secretary to depute for him, when necessary.
Leader of Opposition Suvendu Adhikari objected to Roy's elevation, arguing that the MLA, who had crossed over to the ruling Trinamool Congress last month after winning the polls on a BJP ticket, cannot be considered a legislator of the saffron camp.
'The situation is especially serious in major hotspot districts or emerging hotspots like Ahmedabad and Surat (Gujarat), Thane (Maharashtra), Hyderabad (Telangana), and Chennai (Tamil Nadu),' the MHA statement said.
The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
According to an official statement, the Facebook official has been summoned based on 'scathing depositions of key witnesses as well as incriminating material' submitted by them on record.
The Reserve Bank could consider setting up of a Fraud Registry on the lines of Credit Information Bureau to check criminal activities in the financial sector.
The social audit of all childcare homes across the country was ordered in 2018 when cases of sexual exploitation of girls were reported from childcare institutions in Deoria in Uttar Pradesh and Muzaffarpur in Bihar.
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
United Spirits had earlier forked out a loan of as much as Rs 1,350 crore to UB Holdings.
New FMC directives for MDs & CEOs; regulator also wants half the directors on commodity exchange boards to be independent.
Changes being driven by Etihad, says a source, after a V-P quits
The vacancies are learnt to be impacting the I-T department's day-to-day functioning.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
'To keep the next catastrophe at bay, a carbon free economy will be an imperative. 'Our 2000 cc internal combustion engine powered personal cars and public transport may have to give way to electric and hydrogen powered fuel cells. 'The oil refineries which were so much part of my professional life may have to be dismantled and trees planted in its place. 'The smokestacks, which once upon a time represented growth and prosperity, will now be gory symbols of a polluting past,' notes former Hindustan Petroleum chairman Arun Balakrishnan.
After a report mentioned that Facebook overlooked its hate speech policies in cases of BJP MLA T Raja Singh and 3 others, Shashi Tharoor, chairperson of Parliamentary Standing Committee on IT, said the committee 'would certainly wish to hear from Facebook'.
The government-appointed expert committee, which probes incidents of Ola Electric's S1 Pro and Okinawa vehicles catching fires, has added the latest case of fire involving PureEV electric scooter to its investigation, a senior government official told Business Standard. "A team comprising experts from Indian Institute of Science (IISC) and Centre for Fire, Explosive and Environment Safety (CFEES) are investigating the cases. "As soon as the report is submitted, we shall take appropriate action," said Giridhar Aramane, secretary at the ministry of road transport and highways.
Maharashtra energy minister said the power breakdown in the metropolis was "not a small issue".
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
The BJP member also sought to put the LVB-DBS merger on hold in order to facilitate a forensic audit of the takeover of the assets of both banks.
This demand comes at a time when the government is falling short of its revenue targets due to dwindling tax and low disinvestment receipts. It could account for the dividend in the upcoming Union Budget on February 1. RBI is, however, yet to take a final call on the government's demand and might decide on this at its central board meeting scheduled for February 15 in New Delhi.
The new board will have to provide the NCLT a road map for turning around the company by October 31, which, Kotak said, is challenging, given that the company's issues represent a "moving target"
The mysterious Himalayan 'yogi' who allegedly advised Chitra Ramkrishna, former managing director and chief executive officer of the National Stock Exchange (NSE), on important matters of the bourse could be none other than Anand Subramanian, according to a letter written by former NSE chairman Ashok Chawla to the Securities and Exchange Board of India (Sebi). Subramanian was group operating officer of the NSE and advisor to Ramkrishna during 2015-16. He joined as chief strategic advisor in April 2013.
Replying to a query in Rajya Sabha, Finance Minister Nirmala Sitharaman said there was no delay by the Centre in taking action after identification of fraud by the State Bank of India following the forensic report from Ernst & Young.
Experts regretted that it has taken too long to deliver justice
The rules are being framed to maintain absolute transparency and fair play in investigations.
